Donald Trump is considering appointing Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), to the White House's first cryptocurrency management role.
Giancarlo, a prominent advocate of digital assets, has been a key member of Trump's transition team since his electoral victory on November 5.
Chris Giancarlo, Considered as White House Crypto Advisor
During the presidential campaign, President-elect Donald Trump promised to establish a regulatory commission for cryptocurrencies and fire SEC Chairman Gary Gensler. These pro-cryptocurrency promises contributed to his election victory, which has fueled the current bull market.
However, Trump's pro-cryptocurrency moves have already begun to materialize even before his inauguration in late January 2025. This morning, Gensler announced his resignation as SEC Chairman after a four-year term.
Now, Trump is considering appointing Giancarlo to the White House's first cryptocurrency advisor role, and the former CFTC chair is emerging as a leading candidate, according to FOX Business.
"On the idea of a White House crypto czar, I think this role should be filled by someone neutral and collaborative with all protocols, deeply understanding why crypto is special and what the Biden administration got wrong." - Cardano founder Charles Hoskinson posted on X (formerly Twitter).
The rumors about the candidate have garnered significant online support, and his fans are eager for Giancarlo to return to the administration. The financier has embraced the nickname 'Crypto Dad' from his book 'The Fight for the Future of Money'.
During his tenure at the CFTC from 2017 to 2019, Giancarlo was a staunch advocate for cryptocurrencies. In a 2018 Senate hearing, he proposed a CFTC cross-border framework to support the development of blockchain and virtual assets. After leaving his role, he founded the Digital Dollar Project.
In his role, Giancarlo helped establish the criteria for declaring Bitcoin and Ethereum as commodities rather than securities. He was also a persistent advocate for XRP. During Ripple's fierce legal battle with the SEC, he strongly advocated for the company's interests in the public domain.
"Wall Street meets the crypto wilderness: Giancarlo could be the regulatory lumberjack we needed." - One user added.
However, Trump is reportedly consulting with several other prominent figures in the field to find the best candidate. Other rumored candidates include BTC Inc. CEO David Bailey and Riot Platforms' public policy director Brian Morgenstern, both of whom raised significant funds for Trump's campaign.
